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re: #TaxCABillionaires CA has the highest taxes in the nation. CA could raise more money by reducing taxes. Counter-intuitive but when you reduce fees, volume increases. The rich are fleeing CA because of high taxes. Unbundle the government. Let's see what we're paying for.

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Agent.HODL

@Stack_Russel_UK

Jul 17, 2020

Yes, but if the goal is to raise money, there must be an inflection point. i.e. reduce taxes to zero, and you receive nothing. Not advocating for higher taxes at all, just pointing out it isn't black and white.

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and

If taxes were 0, the government would need to charge for services it provides like any other business. There are many ways to charge though.. it doesn't have to be on income. The state is massively undercharging for property tax. There could be luxury taxes, higher sales tax.

7:20 PM · Jul 17, 2020Twitter Web App

Replying to

and

Point 1 is true, but with respect to the rest I thought the point of your post was to reduce taxes to increase income?

Jesse Powell

@jespow

Jul 17, 2020

Taxing the rich is usually about taxing income (or wealth). This is what's driving people away. Reducing income tax will increase revenue. I don't think it's a problem to raise taxes on, say $5m+ homes, $200k+ cars. Shift it more toward consumption, away from creation.

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and

Taxing property is totally anti freedom and against any basic ownership rule. It is slavery... You don't own it, but rent it... I thought you'd be more pro-freedom...?